Ethereum Technical Analysis: ETH/USD shows mid-term bearish sentiment


ETH/USD Daily Chart

  • The hourly ETH/USD market found support at the 20-day simple moving average (SMA 20) curve.
  • This Tuesday, the bulls managed to break past the $160 barrier as price went up from $157 to $164.75. In the early hours of Wednesday, it is trading for $165.20.
  • The market is trading above the SMA 200 and SMA 50 curves.
  • The signal line is converging with the MACD line showing decreasing bearish momentum.
  • Immediate resistance lies at $169.25 which the bulls will want to take over to test the $170-level again.

ETH/USD 4-Hour Chart

  • The 4-hour market is trending above the SMA 200, SMA 50, and SMA 20 curves. 
  • The SMA 200 has crossed over with the SMA 50 and SMA 20 curves which are both bearish signs.
  • The Ichimoku indicator’s upcoming red cloud shows future bearish sentiment.
  • The Elliot wave’s seven consecutive bullish bars shows that current sentiment is bullish.

ETH/USD Hourly Chart

  • The price was trending above the 20-day Bollinger band before it sneaked back in.
  • The SMA 20 curve has crossed over the SMA 200 curve which is a bullish sign.
  • The price has found support at the $164.85 line, where it is consolidating in a flag formation.
  • The RSI curve is in the overbought zone.

Key Levels

ETH/USD

Overview
Today last price 165.16
Today Daily Change 0.41
Today Daily Change % 0.25
Today daily open 164.75
 
Trends
Daily SMA20 165.97
Daily SMA50 154.19
Daily SMA100 139.63
Daily SMA200 146.78
Levels
Previous Daily High 165.82
Previous Daily Low 156.82
Previous Weekly High 177.67
Previous Weekly Low 148.24
Previous Monthly High 187.51
Previous Monthly Low 140.14
Daily Fibonacci 38.2% 162.38
Daily Fibonacci 61.8% 160.25
Daily Pivot Point S1 159.1
Daily Pivot Point S2 153.46
Daily Pivot Point S3 150.1
Daily Pivot Point R1 168.1
Daily Pivot Point R2 171.46
Daily Pivot Point R3 177.11

 


 

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